Average rents on the new residential segment in Bucharest dropped by 6% in semester I of the year, compared to the same period of 2020, according to an analysis made by the real estate consulting company SVN Romania, according to which the residential market resisted very well to the shock produced by the pandemic, while the rental sector was strongly affected. The present occupation degree of those a;apartments is 90%, over 9,700 units being rented by tenants for medium- long term, that is for at least 6 months. On the overall, over 55,000 lodgings were have been completed since 2018 to the present day, according to INS statistics and SVN Romania estimates. Over 5,500 lodgings have been purchased by investors, representing 10% of total sales. Of them, about 45% were resold , the rest being offered for rental in order to obtain a long term profit. On the average, rents for the new residential segment in Bucharest dropped by 6% in semester 1, 2021 compared to the same period of 2020. For the next 12 months, a linear evolution is estimated taking into account both results recorded by local economy and the immunization degree and the return of employees to office buildings, since the beginning of the academic year. On the average, a new two room apartment located in Bucharest is rented for 250-350 euros for the mass market segment, with 450-600 euros for the middle market segment, a new three room apartment is rented for values between 600 and 900 euros while a villa can be rented for 750 euros on the average.
“Catane,” a dark comedy inspired by real events and directed by Ioana Mischie, is set to have its first special screenings in Romania after a successful festival circuit. The film had its world premiere at the IFFI Goa festival in India and was nominated this year at the Hollywood Music in Media Awards for Best […]
Romania is among the European countries where water reserves are decreasing at an alarming rate, according to an analysis carried out by researchers from University College London in collaboration with The Guardian and Watershed Investigations. Scientists analyzed data from the period 2002–2024 provided by satellites that monitor changes in the Earth's...
George Smyth, 18, went missing on a hike near Romania’s famous Bran Castle more than a week ago. On November 23, the British citizen started to suffer from hypothermia and exhaustion and called the emergency services. Trying to locate him, mountain rescue services conducted searches over the next few days but were only able to […]
Over 107,000 people in Prahova and Dâmbovița counties, in southern Romania, have been without drinking water since Friday, November 28, due to problems at the Paltinu Dam. According to local authorities, the problems are set to persist until next week. The dam registered a drop in water levels, leading to problems in the water distribution system. […]
A special ‘Silent Day’ event will be held at the Bucharest Christmas Market in Constituției Square on Wednesday, December 3, aimed at creating a quieter and more accessible environment for children with sensory disabilities. The initiative is designed to make the festive market manageable for children who may struggle with loud noise, bright lights, and […]
Romanians have the highest level of trust in others in the European Union, according to the most recent Eurostat data for the year 2024, ahead of the usual leader of the ranking, Finland. The indicator ‘trust in others’ measures a person’s trust in people they do not know on a scale from 0 (‘I...
